HAPPY FRIDAY TO THE STREET
South Korea's SK Hynix (SKHYV) just pulled off the biggest foreign debut in US history, raising $26.5B as its Nasdaq ADRs popped more than 13%.
In response, the exchange is already rolling out the welcome mat for the next wave of overseas listings.
Hmm. Are all of those firms key Nvidia (NVDA) suppliers too?
🟩 | US stocks rose today, lifted by the IPO and other key tech gains.
📈 | One Notable Gainer: Meta (META) jumped on a report it will start producing its own AI chip in September, easing Wall Street's compute-cost fears.
📉 | One Notable Decliner: Marvell (MRVL) slid as SK Hynix's blockbuster Nasdaq debut stole the chip spotlight.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
WILL GAS STILL BE HIGH BY ELECTION DAY?
Kalshi bettors are bracing for more (and more) (and even more) pain at the pump.
With the US and Iran trading strikes again and the Strait of Hormuz in question, traders now see a 75% chance gas tops $3.50 a gallon on Election Day. The national average already sits at $3.84. The long wait for November could sting.
Market Movers
CIRCLE, DELTA, WD-40
📈 | Circle Internet Group (CRCL) rose after winning OCC approval to launch its crypto-focused bank.
📉 | Delta Air Lines (DAL) fell despite beating top- and bottom-line Q2 estimates.
📈 | WD-40 (WDFC) rallied after crushing Q3 earnings estimates and hiking full-year guidance.
📉 | Lamar Advertising (LAMR) dropped after Citigroup cut it to Neutral on unfavorable risk-reward.
📈 | Vodafone (VOD) jumped after billionaire Xavier Niel took a 16% stake worth about $6B.
Tomorrow's Trade Idea, Today
SHOP-ING SPREE
Stock Spotlight
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Bot Shopping Spree
Shopify just earned a fresh vote of confidence. Stifel lifted the e-commerce platform to Buy, betting a boom in autonomous shopping will power its next leg up.
Analyst J. Parker Lane points to agentic commerce — which describes AI bots hunting down and buying goods on a shopper's behalf — as the driver.
Agents Of Change
Lane says Shopify has made adoption nearly effortless for merchants.
He also argues Shopify's outsized merchandise-volume growth is clear proof it keeps taking share, and that agentic commerce will accelerate the trend.
Management frames the strength as broad-based across geographies, merchant sizes, and channels rather than any single win.
The market backdrop helps. The global agentic AI market could swell to $24.5B by 2030, according to Grand View Research.
Checkout Pending
Lane concedes that monetizing AI in retail is still early, so the upside will take time to ring up. Merchants are still learning to measure agent-driven traffic.
Broader Wall Street already leans bullish, with 36 of 47 analysts rating Shopify a Buy or Strong Buy. Shares sit deep in the red for 2026, but Stifel thinks the bots are only starting to fill their carts.
Do you own any shares of Shopify (SHOP)?
OVERHEARD ON THE STREET
🏠 | President Trump said he won't sign the bipartisan housing affordability bill in protest of a stalled election measure.
✈️ | A Ryanair Boeing (BA) 737 made an emergency landing in Greece after a cabin window dislodged at 16,000 feet.
🇪🇺 | The EU charged Meta with breaching its digital rulebook and demanded it disable "addictive" features like infinite scroll and video autoplay.
THURSDAY'S POLL RESULTS
Do you own any shares of Toast (TOST)?
▇▇▇▇▇▇ 🐂 Yup, I'm holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I'm interested
And, in response, you said:
🐂 Yup, I'm holding — “I was at brunch with my wife a while ago and when the bill came it had a QR code that I could scan directly to my Toast app for me to pay. It was very quick. I bought the stock that day as I thought this would be great for both the customers (as soon as you get the bill you're ready to leave) and the restaurant (higher turnover, less work for the wait staff, more revenue). ”
👀 No, but I'm interested — “I usually just have some fruit and cereal — is it good with butter on it?”
